What’s wrong with this picture?
For me, it’s that too many customers are waiting to use the ATM. How many times have you had to wait in a queue, wasting your time? Why haven’t banks streamlined this process already?
I propose an alternate ATM customer interaction model. I’m not trying to deliver a fully-functional solution. I am however, horizon gazing, and want to get some creative thought juice around disrupting the current way we interact with our bank ATMs.
The new way: Bump your ATM
The new interaction model is simple. As a customer, you:
- Define your details on your mobile device (PIN, account, withdrawal amount, etc)
- Approach the ATM and ‘bump’ it with your mobile device
- Cash is dispensed (or deposited) and the transaction is complete.
The term ‘bump’ may be ambiguous, but it refers to a technology that already exists- Bump App. This app allows individuals to exchange contact information just by tapping or ‘bumping’ their smart phones together. This interaction model has been adopted (acquired) by PayPal to provide a phone-tapping money transfer service.
Could we re-engineer this technology and apply it to ATM’s?
One immediate advantage I could see with bumping an ATM is avoiding situations like this, which lead to this (HT @ScottRhodie 
)
I ran the idea by @jwswj, @dkeeghan, @KristianTT and @haribilalic over a lunch at Captain’s of Industry. The response was positive.
What do you think?
9 Comments
As via Twitter, this is a good idea (save for security concerns) but I don’t think it will fully solve the queuing issue. You’ll still have to queue. Just that you may have to queue for a shorter period of time.
Maybe we should just switch to Virtual money – like using Japan’s Suica model. They use that to pay for their train fares and even for vending machines or buying stuff at partnered convenience store. It’s a card and all you have to do is swipe and it’ll deduct automatically from your credit. To top up, you can do it over the net (I assume anyway).
Mobile Suica places a chip into your mobile phone so if you ever go to Japan, you’ll see plenty of people just swiping their mobile phone over sensors at train stations, vending machines or in convenience stores.
Step that a bit further ie. for ALL transactions, then it’s goodbye ATM’s altogether. Everything’s on the net. The biggest worry then is of course, security.
Hey Angel,
Most of the responses on Twitter have been around the lack of practicality and security of this idea, and I totally agree. It’s definitely not a fully fleshed out idea. But my goal of sparking interest and thought around different interactions with ATMs has been achieved.
I love the idea of the Suica Card & thanks for the link on it — http://tinyurl.com/2djb8hz
If we can guarantee the security involved with Near Field Communication (http://bit.ly/cKhX89), we will have an exciting future ahead of us
Great concept: RT @jymmysim Bumping your bank's ATM (making the customer-ATM interaction model sexier) http://bit.ly/bSXA3T
This is a cool idea.
A quick win for banks is letting users set a “favourite” ATM withdrawal (some already do this). I’d just need to enter my PIN and click one button. No need to specify account, amount or whether I want a receipt printed. 6 clicks rather than 11 – 1 decision rather than 3.
Chris,
Thanks for the feedback
I currently use the ATM ‘favourite’ functionality & love it.
I truly believe that our Aussie banks need to up their game around meaningful service offerings. Bumping is only just one solution to minimise transaction time at ATMs. As @c0uP said, more advanced mobile offerings may even replace ATMs all together. Now it’s just about finding those service offerings that make maximum positive impact on customers.
This is a great idea, but I think we are too late for this. I think it’s time to think past how we improve ATMs and start to look towards new technology like PayWave. Because really.. when we think about it, it’s such a waste of time to have to find an ATM (not to mention finding an ATM flavour I prefer to minimise fees) to access money, when I can (read: should) be able to access money at any merchant.
I know the idea of a cashless society may be a while off, but I think ATMs are something that have done their job, it’s time to move on.
Will,
Love your insights.
I didn’t know PayWave was in Australia thanks to NAB– http://bit.ly/94bXtg
For me, the best features of PayWave are that:
1. It’s convenient – swipe & go
2. It’s even more convenient for transactions under $100 (no pin, no signage)
3. It supports both credits and debits (so effectively, it dabbles in the ATM area)
If PayWave is rolled out nationally and becomes more pervasive, I’d definitely sign up for an account.
Convenience is the key.
@thebankchannel Bumping your bank's ATM– http://bit.ly/bSXA3T … thoughts?
@howardt reply to your #thought on making the ATM experience faster: http://bit.ly/bSXA3T